OPEN-SOURCE SCRIPT
Difference % between PRICE and VWAP V2
Shows difference between price and daily/weekly/monthly/hourly/whatever VWAP.
In v2:
option to color bars
average percentual difference of custom period
histogram changes color depending on which levels it's at
Levels/period/color etc can be customized.
Use these inputs in the timeframe box:
M - month
W - week
D - day
2D (or 3W or 2M or whatever) = 2 Days (or three week or 2 months and so on)
60= 1 H
240= 4 H
5 = 5 min
and so on.
btw, vaguely remembering reading somewhere that the big players like to make their entry at 4% difference.
In v2:
option to color bars
average percentual difference of custom period
histogram changes color depending on which levels it's at
Levels/period/color etc can be customized.
Use these inputs in the timeframe box:
M - month
W - week
D - day
2D (or 3W or 2M or whatever) = 2 Days (or three week or 2 months and so on)
60= 1 H
240= 4 H
5 = 5 min
and so on.
btw, vaguely remembering reading somewhere that the big players like to make their entry at 4% difference.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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